Board Committees

The Audit Committee

The role of the Audit Committee is to assist the Board of Directors in its task of supervising the financial reporting process, the internal control of financial reporting, the auditing process, and Company procedures aimed at ensuring compliance with the law, regulations and the Swiss code of best practice.

The Audit Committee also reviews the performance, efficiency and fees of the external auditors, and ensures that they maintain their independence. It examines the effectiveness of the cooperation of all the financial and risk management departments with the external auditors. The Committee has the power and authority to carry out or approve investigations into all areas relating to its sphere of competence. The Chief Financial Officer and the Chief Risk Officer attend its meetings as necessary.

The auditors are also invited to attend all meetings at which the Committee reviews the half-year and year-end accounts. They submit a detailed report on the auditing process, important matters relating to the application of accounting standards and reporting, and the results of the examination of the compliance system.Minutes of the Audit Committee meetings are forwarded to the Board of Directors.

The Committee held five meetings in 2019, which lasted an average of four hours.

Name Title
Robert Pennone Chairman
Jean-Marie Descarpentries Member
Eric Solvet Member
Hervé de Carmoy Member

The Remuneration Committee

The Committee makes recommendations to the Board of Directors regarding remuneration schemes and policies and, more specifically, regarding the remuneration of members of the Executive Board, share option schemes and other incentive schemes. It held one meeting in 2019, which lasted one hour and half. 

Name Title
François Carrard Non-executive Member
Christian Goecking Non-executive Member

 William Wostyn: Secretary of the Committees